JustMoney advises smart money moves regardless of rate direction

With the South African Reserve Bank (SARB) set to announce its latest repo rate decision today, 18 September, JustMoney.co.za advises South Africans to focus on fundamental financial strategies.

"South Africans shouldn't base major financial decisions solely on interest rate movements," says Sarah Nicholson, customer experience and platform manager of JustMoney.co.za, a platform which helps South Africans make good money choices.

"With economic growth forecasts revised to around 1%, and ongoing uncertainty, the priority should be building financial resilience."

Smart money priorities

1. Emergency fund first. Aim for savings to cover three to six months of expenses, in an accessible account.
2. Debt reduction. Tackle high-interest debt regardless of interest rate changes.
3. Long-term strategy. Consult a reputable financial adviser and plan according to your personal circumstances and long-term goals, not today’s announcement.
4. Diversification. Spread your investments so that you reduce risk and have a better chance of steady growth, even if one asset class performs below expectations.
5. Protection. Compare insurance quotes to get real value, and protect your assets.

"The SARB has already cut rates three times this year, but many South Africans are still paying around 20% on credit cards depending on their profiles," notes Nicholson. "Focus on what you can control – your spending, saving habits, and debt management."

JustMoney.co.za is a trusted voice within the personal finance sector, helping South Africans make good money choices. The JustMoney platform offers personalised insights, numerous articles, and a range of financial solutions and tools, including a free credit score check.